The Bank of Abyssinia, a private bank in Ethiopia, is to payout 56.7% per share to its shareholders. The bank made 178.44 million birr in net profit, in the last fiscal year. 
The current earnings per share show a 26.8% increase over that of the previous fiscal year.
The bank registered a record income of 618 million birr showing a 149 million birr increase as well as raising its total assets to a high of 7.28 billion birr recording a 16% growth according to Addisu Habba President of Abyssinia Bank.The share holders of Abyssinia have decided to double the paid up capital of the bank from 315 million birr to 630 million birr over the coming two and half years.
The total amount of loans and advances registered by Abyssinia Bank, stood at 3.32 billion birr, in the past fiscal year, showing an increase of 162.6 million. The bank’s report shows that domestic trade and services took up the largest percentage (34.6%) of the loans extended by the bank of Abyssinia. The construction sector, exports, imports and industry also received considerable portions of the bank’s loans and advances.
The total deposits of Abyssinia bank increased by 18% to 6.08 billion birr. 73% of total deposits comprise of saving deposits while demand deposits make up 26% and 1% consisting of time deposits. The number of deposit accounts at the bank increased from 263,167 to 288,259.
The bank’s expenses showed an increase, to 359.7 million birr.
Source: Fortune
